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- Canadian industrial product and raw materials prices fall in August
Canadian industrial product and raw materials prices fall in August
Statistics Canada released its industrial product and raw materials price indexes on Tuesday. The Industrial Product Price Index (IPPI) fell 0.3% in August, beating forecasts for a 0.4% drop, after a 0.7% gain in July.
The decrease was driven by lower prices for energy and petroleum products, which slid 4.7% in August.
17 of the 21 commodity groups increased, 2 declined and 2 were unchanged.
The Raw Materials Price Index (RMPI) dropped 6.6% in August, after a 6.0% fall in July. It was the largest fall since January 2015.
The decline was driven by lower prices for crude energy products. Crude energy products plunged 14.8% in August.
2 of the 6 commodity groups rose and 4 decreased.
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